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Opportunity Zone
Glendale Apartments
PRICE REDUCED! 18 Individually Deeded Units for Under $130k/Unit!
Listing Contacts
See All (3)
License: CO FA100032419
License: CO FA100052086
Active
Asking Price: $2,325,000
Address
2916 Glendale Dr, Evans, CO 80620
Show on MapDate Added
Oct 9, 2024
Days on Market
197 days
Time Since Last Update
49 days
Details
Property TypeMultifamily
SubtypeApartment Building
Investment TypeValue Add
ClassC
Square Footage13,088
Price/Sq Ft$177.64
Cap Rate6.15%
Pro-Forma Cap Rate7.39%
NOI$143,015
Pro-Forma NOI$171,722
Units18
Year Built1973
Buildings3
Stories2
Lot Size (sq ft)25,061
Broker Co-OpYes
Price/Unit$129,166.67
Marketing Description
The Glendale Apartments is an 18 unit (3 – six unit buildings), value-add apartment complex located in Evans, CO. This well-maintained asset offers investors the opportunity to add additional value through a proven renovation strategy and acquire the property at a basis well below replacement cost. All 18 units are individually deeded, offering an investor additional flexibility on the backend.
Investment Highlights
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Well-Maintained 18 Unit Property in Evans, CO
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Ideal Unit Mix with 15 - 2Br/1Ba and 3 - 1Br/1Ba Units
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Value-Add Upside Through Additional Unit Renovations
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Less Than One Mile to University of Northern Colorado
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5 Minutes to the Greeley Mall
Valuation Calculator
Valuation Calculator
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$143,015.00
$11,917.92/mo
Valuation Metrics
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0
DSCR
6.15%
Cap Rate
6.15%
ROI
Property History
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Due Diligence
Listing Contacts
See All (3)- License: CO FA100032419
- License: CO FA100052086
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